Standard Chartered announced the successful completion of the first cross-bank Letter of Credit (LC) transaction between Vietnam and Thailand conducted over blockchain, in partnership with Asian Development Bank (ADB), Bank for Investment and Development of Vietnam and Standard Chartered Bank (Thai).
Five international freight transport and cargo handling organisations are collaborating on the production of new guidance on packing standards for freight containers and other cargo transport units. The Container Owners Association, the Global Shippers Forum, the International Cargo Handling Co-ordination Association, the TT Club and the World Shipping Council are co-operating on a range of activities to further the adoption … Read more here..
Yet another appeal has been sent to Governments to recognize seafarers as keyworkers and address the humanitarian crisis faced by the shipping sector, ensure maritime safety and facilitate economic recovery from the COVID-19 pandemic..
The Electronic version of the most powerful document in shipping – the Bill of Lading has been making news for quite a while..
I wrote earlier that 2020 will be remembered as the year that saw the beginning of the end for the paper “Bill of Lading” and the year in which the switch to “Electronic Bill of Lading” (eBL) began in earnest..
Carriers are pushing more and more for the adoption of the eBL in various regions of the world with the aim to improve documentation flow and avoid costly delays to customers..
MSC has just released a statement confirming that they will be accelerating the adoption of their eBL with the WAVE platform in India..
Leading freight transport and logistics insurer TT Club is reflecting the evolving digital landscape in its new logo and revamped website. Increased accessibility to data, information and streamlined processes are the key aims of the insurance specialist’s investments in digitisation.
Although COVID-19 has accelerated digitalisation, TT had already embarked on its path to digital transformation.
Complete supply chain transparency, unprecedented security, and the transactional capacity to serve the needs of even the largest Fortune 500 and Global 500 companies are all now possible following the launch of ShipChain Mainnet.
This launch is a significant milestone toward achieving a modular system across the entire supply chain.
With all the uncertainties in the world today, it gives supply chain decision-makers the incentive to move from considering how blockchain might be used in global supply chains to realizing its evident promise across transport modes and continents.
“I am pleased that we despite the headwinds, continued our track record of improving earnings and free cash flow. Our operating earnings improved by 25%”
Another day, another CEO of a shipping line announcing good performance results. This time it is Mr.Søren Skou, CEO of A.P. Moller – Maersk announcing the strong performance by A.P. Moller – Maersk in Q2 2020.
Cargo misdeclaration is nothing new to shipping and has been continuing for years especially in containerised shipments for various reasons..
Apart from the loss of millions of dollars worth of goods and assets, such misdeclarations also result in maritime disasters which have a huge impact on the environment and the loss of life (human or otherwise)..
There are enough examples of the consequences due to misdeclarations both in misdeclaration in weight and/or misdeclaration of hazardous content..
To tackle the scourge of weight misdeclaration, IMO and other stakeholders imposed the requirement of SOLAS VGM which came into effect in July 2016..
While life after SOLAS VGM seems to be hunky-dory and no major incidents have directly attributed to weight misdeclarations, hazardous cargo misdeclaration still seems to be rampant and several shipping lines are “gatvol” of these misdeclarations and have imposed severe financial penalties on the defaulters..
ZIM recently developed and implemented an innovative AI-based screening software to detect and identify incidents of misdeclared hazardous cargo before loading to vessel..